Middlesex County Economic Development

Foreign Direct Investment Project

OutlineIntroductions

Goals of the FDI program

Middlesex proposal to ICCI

Work plan

Budget/ Council Approval Updates

Meeting Schedule

Other Business

Middlesex FDI Program Goals Establish a FDI strategy

Bring new investment & jobs to the County Attract foreign investment Support existing foreign-owned

and operated companies Build relationships with key

influencers & decision makers outside of Canada

Make FDI an ongoing part of our economic development efforts

FDI StrategyStart with Middlesex County

Economic Development Strategy

Identify best practices in FDI

Consult with DFAIT, MEDT investment and target sector representatives, key influencers

Recommend target sectors and countries

3 year work plan

ICCI Proposal

Establish a FDI Strategy

Steering Committee with County, Municipal partners

Identify human and financial resources required to implement an ongoing FDI program

Visits to US Consulate offices (Detroit, Chicago, Minneapolis, Los Angeles) TBC

Aftercare visit to Armatec (Germany) TBC

Target Sectors

Manufacturing

Renewable Energy

Agri-Business

BudgetPartner Contribution

Cost Notes

FDI Strategy $60,000 Cost of Developing FDI Strategy

ICCI Funding $30,000 50% of the strategy development costs

Middlesex county Contribution

$15,000 Will be requested in 2011 budget

Thames Centre $6,000 Will be requested in 2011 budget

Strathroy-Caradoc $7,000 Will be requested in 2011 budget

Middlesex Centre $2,000 Will be requested in 2011 budget

Southwest Middlesex $2,000 Will be requested in 2011 budget

Adelaide Metcalfe TBD

North Middlesex TBD

Lucan Biddulph TBD

Marketing Materials TBC We require $15,000 from the municipal partners to cover the cost of the strategy. Any additional funds above $15,000 will be used to develop marketing materials to support the Consulate / prospective investor visits

Next Steps Establish steering

committee

Budget approvals from Councils

Draft & issue RFP

Select consultant

Municipalities confirm available property inventory

Project ScheduleBudget approvals February

Issue RFP February

Award RFPCommence Project

After budget approvals

Stakeholder Consultation March

Complete FDI Strategy April

Compile FDI Tools, marketing materials

June

Develop FDI Program, Coordinate Visits, prepare team members

September

FDI Missions, aftercare & lead generation visits

Q4 2011, Q1 2012

FoodTech Event SWEA Partnership Program

May 2011, Rosmalen, Amsterdam

Food Processing Trade Show and delegation

Middlesex County has committed subject to budget approval

Questions?